State Street Corp Raises Stake in Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

State Street Corp lifted its stake in shares of Tandem Diabetes Care, Inc. (NASDAQ:TNDM) by 3.2% during the 3rd quarter, Holdings Channel reports. The fund owned 2,655,736 shares of the medical device company’s stock after buying an additional 83,172 shares during the quarter. State Street Corp’s holdings in Tandem Diabetes Care were worth $112,630,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of TNDM. ORG Partners LLC purchased a new position in Tandem Diabetes Care during the second quarter worth about $31,000. Nisa Investment Advisors LLC increased its holdings in shares of Tandem Diabetes Care by 33.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,936 shares of the medical device company’s stock worth $239,000 after buying an additional 1,486 shares during the last quarter. MN Wealth Advisors LLC raised its position in shares of Tandem Diabetes Care by 3.1% during the 2nd quarter. MN Wealth Advisors LLC now owns 14,723 shares of the medical device company’s stock valued at $593,000 after buying an additional 440 shares during the period. JB Capital LLC lifted its holdings in Tandem Diabetes Care by 8.6% in the second quarter. JB Capital LLC now owns 31,470 shares of the medical device company’s stock valued at $1,268,000 after acquiring an additional 2,499 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Tandem Diabetes Care by 17.4% in the second quarter. Bank of New York Mellon Corp now owns 494,313 shares of the medical device company’s stock worth $19,916,000 after acquiring an additional 73,397 shares during the period.

Tandem Diabetes Care Stock Performance

Shares of TNDM opened at $32.66 on Monday. Tandem Diabetes Care, Inc. has a 1 year low of $21.85 and a 1 year high of $53.69. The stock has a market capitalization of $2.15 billion, a PE ratio of -16.92 and a beta of 1.32. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.32 and a current ratio of 2.90. The stock has a 50-day simple moving average of $32.82 and a 200-day simple moving average of $39.51.

Tandem Diabetes Care (NASDAQ:TNDM) last announced its quarterly earnings data on Wednesday, November 6th. The medical device company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. The company had revenue of $243.97 million for the quarter, compared to the consensus estimate of $224.14 million. Tandem Diabetes Care had a negative net margin of 14.84% and a negative return on equity of 44.19%. The company’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.38) EPS. On average, analysts predict that Tandem Diabetes Care, Inc. will post -1.68 earnings per share for the current fiscal year.

Insider Activity at Tandem Diabetes Care

In related news, Director Kim D. Blickenstaff sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the sale, the director now owns 195,190 shares in the company, valued at $5,855,700. The trade was a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TNDM shares. Barclays lifted their target price on Tandem Diabetes Care from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Sanford C. Bernstein initiated coverage on shares of Tandem Diabetes Care in a report on Wednesday, November 6th. They issued an “outperform” rating and a $42.00 price objective on the stock. Royal Bank of Canada assumed coverage on shares of Tandem Diabetes Care in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $65.00 target price for the company. Robert W. Baird reduced their price target on shares of Tandem Diabetes Care from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, Morgan Stanley raised shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective for the company in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.81.

Tandem Diabetes Care Profile

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.